Papers by Erzsébet Nedelka
The research of economic crises had their renaissance after 2008-2009 but many economists are sti... more The research of economic crises had their renaissance after 2008-2009 but many economists are still studying the topic even today. Most of the studies focus on the analyses of crisis symptoms and subsequent economic processes, in many cases examining only one country at a time. Just a few of them undertake long-term time series analysis or the analysis of a region. This research examines more regions dating back to the 60s and problems are emphasized on the structure of economy. One of the stages of my investigation is the South American countries, which have already experienced crisis or crises in the 70s, 80s and 90s thus providing enough facilities to analyze certain relations between the transformations of economic structure and crises. In this short essay I present my results about the economy of Chile between 1960-1985 emphasizing the crisis in 1974-1975 and in 1982. According to this result I established that in each period structural changes were followed by crises. However structural changes (structural distortions) were not the natural concomitants of the economic growth but the side effect of the changes in economic policies.
Indonesia stepped on the way of economic growth and development after the political instability o... more Indonesia stepped on the way of economic growth and development after the political instability of the 60s. The New Order brought pro-western politics and economic policy. During this period the classical process of economic development and structural changes were perceptible until 90s. Industry displaced agriculture, and then service sector displaced industry; before Suharto there was import substitution policy, during Suharto was export promotion policy and openness. However, Asian crisis broke this development process. Economy declined, inflation picked up, unemployment rate and poverty rate increased, which led to import substitution policy again. After the millennium economic growth and development was based on own internal market, which is borne out by weak openness indicators. In my essay I analyze the effect of structural changes on economic growth and development.
FDI investment cannot help mitigate the huge gap in foreign trade between the two countries. In t... more FDI investment cannot help mitigate the huge gap in foreign trade between the two countries. In the last years the Hungarian deficit in bilateral trade continuously increased. Hungary could not reach surplus even in agriculture. While a regional leader in incoming FDI, Hungary is still negligible from the point of view of China.
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Papers by Erzsébet Nedelka